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In response to the escalating conflict in Israel, JPMorgan Chase & Co. (NYSE:) has implemented remote working arrangements for its 200 employees in the country. The move comes as a result of an unprecedented invasion by Hamas, marking Israel’s most severe military setback in half a century.
The conflict, which has been ongoing for three days now, has resulted in over 1,100 casualties due to land and sea infiltrations, rocket strikes, and hostage situations. In an effort to provide support, the US has dispatched warships and weapons to the region.
So far, other major financial institutions including Goldman Sachs, Citigroup (NYSE:), Bank of America, Morgan Stanley, and Deutsche Bank have not yet announced their contingency plans in light of the current situation. These banks have a significant presence in Israel and their silence raises questions about how they plan to ensure the safety of their employees amid the escalating conflict.
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